Kaczmarek faces WSiP sale dilemma after offers fail to meet expectations

The Treasury has announced it is withdrawing the invitation to negotiations on the privatization of publisher Wydawnictwa Szkolne i Pedagogiczne (WSiP). The move comes in the wake of the failure by a consortium of Polskie Ksiazki Edukacyjne (PKE) and Agora to match a previous offer for WSiP submitted by Polskie Towarzystwo Edukacyjne and Nasza Ksiegarnia (PTE-NK). PTE-NK had agreed to pay zl.335 million for an 85% stake in the publisher. After the deal fell through the Treasury made an approach to PKE and Agora, asking whether they would be interested in the purchase. Prawo i Gospodarka speculates the failure to reach a deal leaves Treasury Minister Wieslaw Kaczmarek facing a difficult decision. Unofficial sources quoted by the daily say one option under consideration is a mixed privatization of WSiP, with a reduced stake being sold to an investor, and the remainder of the 85% of shares being made available through a public offering. (Prawo i Gospodarka, p. 5) P.J.